614 S Philadelphia Blvd - Auto Repair FOR SALE


Aberdeen, MD 21001
$2,000,000 USD
410-803-0714
614 S Philadelphia Blvd, Aberdeen, MD for Sale
$2,000,000 USD
Auto Repair - FOR SALE
1/26
null | 4.1% Cap Rate

614 S Philadelphia Blvd
Aberdeen, MD 21001


HIGHLIGHTS

  • Precision Tune and pad site on .84 acres plus 3.28 acre parcel in rear for a combined 4.12 Acres
  • Precision Tune is paying $82,039 in rent annually NN
  • The current pad site can be substantially enlarged by moving the SWM pond on site
  • 34,000 cars per day passing the site on Philadelphia Rd
  • Both parcels zoned B3 which is the most permissive zoning in the City of Aberdeen
  • Landlord is responsible for roof, structure, and parking lot

OVERVIEW

Excellent development opportunity with cashflow from day 1.  Precision Tune Building plus adjacent pad site and rear large parcel located in Aberdeen, MD just 30 miles North of Baltimore City.  Precision Tune was Custom built by landlord for tenant in 2005.  The property consists of a freestanding 3,289 SF building situated on a .84-acre lot zoned B3. Precision Tune occupies roughly 1/2 of this lot and the other 1/2 is a paved pad site ready to go for another free standing building of similar size.  The connected rear parcel on James St is 3.28 Acres also zoned B3.  Precision Tune is paying $82,039/yr on a corporately guaranteed, Double-Net (NN) lease with 4 years remaining on their 1st of (5) 5yr renewal options. (July 2029 expiration). They have 4 remaining options to renew with 15% increases or CPI- whichever is less. The lease is guaranteed by PTAC which is owned by parent company Icahn Automotive Group LLC.  The paved pad site next door to the Precision Tune is tenant ready with utilities, curb cuts.  Both parcels have  storm water management already in place.  A developer can connect this large lot to the front pad site to create a large retail site with frontage & signage on Philadelphia Blvd while collecting the cashflow from Precision Tune.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$608 USD /SF

CAP RATE

4.1%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Precision Tune Auto Care

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

B3

APN/PARCEL ID

02-398086

ASK ABOUT THIS PROPERTY

David FeazellGarceau RealtyMore Info
410-803-0714

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David FeazellGarceau RealtyMore Info
410-803-0714

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.